Brazilian traders explore opportunities in Manila

A BUSINESS delegation from Brazil seeks to explore investment and trade opportunities in the Philippines, the Department of Foreign Affairs (DFA) said.

Foreign Trade Secretary William O’Dwyer of the state of Goias informed the Philippine Embassy in Brasília of the proposed visit of Brazilian businessmen to Manila from February 28 to March 3 next year, the DFA said in a statement.

O’Dwyer the Philippines will be the last leg of the delegation’s business tour, which will include Hong Kong and Singapore.

Philippine Ambassador to Brazil Jose D.R. Burgos welcomed the proposal and invited the businessmen to also participate in a Brasília-Manila Trade Fair and Cultural Festival in early February where Brazilian and Filipino companies could showcase their products and services.

Burgos said that for the first and second quarters of 2016, the Philippine economy grew by 6.8 percent and 7 percent, respectively, outpacing China. In the third quarter, the economic growth of the Philippines was the fastest in Asia at 7.1 percent.

Brazil’s economy was down in 2016 but signs of economic and political stability have created a more positive impression on how Brazil’s economy will fare in 2017.